Turnover Sucks, Most of the Time
Employee turnover refers to the measurement of how long your employees stay with your company. We have all experienced the frustration of the employee who leaves after we take the time to mentor, coach and train the employee into a budding superstar within your organization…and then they decide to abruptly leave.
Turnover is triggered by a multitude of reasons; perceived better opportunities, personal issues, culture fit issues, performance issues, etc. Voluntary or involuntary, having to take the time to replace team members is hard work. With increased job-hopping happening today, hiring managers must utilize all the tools and resources they can to hire smart and thereby reduce turnover.
“If you always do what you always did, you will always get what you always got.”
Hiring effectively takes continuous improvement in the process. We must try to get to the root cause of turnover and change behaviors or practices to try and reduce it. It might be possible that you have the wrong people in charge of the hiring process or that you are creating job descriptions in a way that is failing to attract the right candidates with the qualifications and personalities for the position. You should also pay close attention to competitors you admire and try to understand how they are winning the team building game.
Once you learn why your employees left your company, you can further understand what factors your employees are most motivated by, whether it’s compensation or office environment, etc. Make sure to have exit interviews that work to your advantage and give you some insight.
“Feedback is the breakfast of Champions.”
Finally, make sure to understand the qualities that make top-notch employees at your company. These could likely be different for each position within your organization, but recognizing these traits can help you hire people that are likely to succeed and stick with the company. Model interview and recruiting practices to attract and identify common traits of your most valued team members.
Reducing turnover creates a sense of stability in the organization and allows management to focus on development of talent versus a constant search for it. By focusing on ever changing cultural shifts and personal employee needs, you can enhance your recruiting skills and reduce your turnover rates.